Types of Market Research

Types of Market Research: Primary and Secondary Research
Primary Research
Observation This is a form of research whereby researchers watch how consumers behave to certain products or services. Observation works well in retail markets; sit outside a shop and watch how many people walk by, look at the window display etc. Experimentation

This form of research involves experimenting with a product and seeing how people react to it. The results are recorded and analysed so they can make any necessary changes to the products. For example experimentation maybe done by changing the price of a product to see hoe the market will react. Focus Groups

This is a group of potential and existing customers brought together to focus on a particular product or consumer issues. The purpose of this research is to gather qualitative data as opposed quantitative data that focuses on the numbers. Panels

Panels are surveys that are conducted over longer period of time with same group of people. They provide information about the typical things consumers buy how consumers respond to marketing campaigns like special offers and increased advertising. E–market Research

This is as referred as “Achieving marketing objectives through applying digital technologies”. These digital technologies include Internet media such as web sites and e-mail as well as other digital media such as wireless or mobile and media for delivering digital Television such as cable and satellite. Field Trials and Piloting

Field trial involves testing a new product/service in the market before launching it. The purpose of this is to find out how real consumers respond to the product thou expensive it does produced very relevant and important information. Piloting is a similar process but this identifies the strengths and weaknesses. This may also mean piloting of market research questions. Surveys

These are the most frequently used methods of research which mainly involve the use of questionnaires. There are many ways of conducting surveys for example: * Face to Face: This is live question and answer interviews were once the most accurate form of information gathering available they are good when collecting * Postal: A survey method in which a printed questionnaire is produced and is sent by mail to consumers for them to fill in and send back. Postal surveys traditionally have a very low response rate. * Telephone: Consumers are interviewed via the telephone. The telephone interview is normally conducted from a central telephone facility. * E-mail: A survey in which respondents are contacted by e-mail and they respond to the survey via e-mail. This has a very low sometimes no response rate as some respondents may redirect the e-mails to their junk mail. Secondary Research

This is research that mainly involves using existing information rather than finding out new information. There are two main sources of finding this information and they are Internal and External sources. Internal Sources

Data Records These are records that a company keeps in their database, particularly the important ones like the sales figures and customer based information like invoices and personal details. Loyalty Schemes/Cards

The increasing availability and use of loyalty cards has given retail outlets the chance to gather a wide range of valuable information on customer buying habits, allowing them to target promotional campaigns more effectively. EPOS (Electronic Point of Sale)

This is self-contained, computerized equipment that performs all tasks of a store checkout counter. It allows payments by bank or credit cards, verifies transactions, provides sales reports, coordinates inventory data, and performs several other services normally provided by employees. Website monitoring

It is essential to keep a record of browsers who show an interest in your website and the goods and service you offer. So this makes it easy for them to offer promotional offers to...

You May Also Find These Documents Helpful

...﻿Task 1, Evidence you must produce for this task
Introduction
The purpose of marketresearch is to gather data about consisting customers or new customers. It helps the business make decisions on a new product or a consisting product. By doing marketresearch they are able to find out what the customers like and want and what they don’t like. Marketresearch is important to gain a profitable business. If the company have a new upcoming product for the target audience of young teens then they have to make sure that they get the right data for the product to be a success. There are many methods of marketresearch that businesses can use; some marketresearch will go into finding out what new product the audience would like to see.
Primary Research
Surveys- surveys are important for businesses because they can ask the questions specifically on what the customer may want. Surveys can be given to complete in many different ways including face to face, online or by post. Surveys are good way to improve a business’s profits as customers can feedback information on what they may want. The business then can gather all the surveys and find out what the most popular point of view and focus on building a new product or improving that product around the survey feedback.
Focus Groups- Focus group research is used to...

...Introduction: a lot of business uses marketresearch, to collect information to help them provided a suitable and a sustainable marketing product or service. To attract customers interest in order to make their business more success able.
Primary research: this is information which is collected from scratch, as company gather primary research based on their research feedback. They get from the date which company team members produces, this is a primary effort because new fresh data which has been collected is done first handed. All members within the company are involved, in collecting primary by participating their ideas and opinions on question which the company select before handing out the data to consumers targeted.
Collecting original data is also known as field research by using different research method such as questionnaire, surveys, observation, postal telephones and e-mailing, as Primary research is collected for a particular purpose such as finding out how “many people in barking and Dagenham area are in employment”.
Also this helps to classify clearly which service or product will interest a particular age range. Therefore this helps big companies to predict and identify whether the product or a service will be successful or not. Using these research methods many companies are able to use different types of date...

...questions.
Can cover a wide geographical area.
More adaptable. Questions can be explained.
Disadvantages
Limited to a maximum time of 15 minutes. The longer the survey, the more incomplete questions and hang-ups.
Questions must be clear and simple as interviewees cannot read/see the questions arnd complicated questions are not appropriate.
More expensive than those done by mail.
Cannot see body language.
Internet Survey
Advantages
Faster - the time span needed is less.
Cheaper i.e. less research cost
More accurate - smaller margin of error as responses are directly entered into the system.
Quick to analyze.
Easy to use for participants and analysts
Easy to style
More selective and flexible.
Can cover a wider geographical area.
Disadvantages
Respondents may not feel encouraged to provide accurate answers
Respondents may misunderstand the questions and no one will clear them up.
Data errors may occur
No body language
Customized surveys can run the risk of containing certain types of errors.
Consumer Panels
Advantages
If there are changes in the brand or in the preferences of consumers, these changes can be researched and implemented very quickly.
It is able to report on more sensitive issues, including x-rated products, liquor, cigarettes, wine and beer to name but a few. The data is incredibly specific, which means there is no danger of researching intentions rather than products.
Consumer panels can provide a...

...EVIDENCE FOR NURSING
The choice of research method is dictated by the problem statement and goal of the research. Because research goals and problem vary, research methods also vary. Research design can be thought of as the structure of research, the “glue” that holds together all of the elements in a research project. One of the biggest challenges of a nurse researcher is to decide which research design and method to use.
Research Design is the researchers overall plan of how the study will be conducted. The plans contains such details as the type of data to be collected, the techniques or the means to be used to obtain these data, the basis for the choice of the subjects, the manner of determining sample size, the instruments to be used and their validation, and the data analysis scheme which includes the application of the statistical tools for treatment of data.
Criteria for choice of Research Design
Logically sound
Comprehensive enough to solve the problem
Reasonably clear & precise
Clearly spelled out
Free from weaknesses
Elements to consider in the choice of Research Design
The total population from which to select the study samples
The method of selecting the samples or study respondents
The alternative versions of independent variable under study
The criterion measures evaluating...

...﻿P3- Cadburys use of marketresearch that contributes to the development of its market plans.
Cadburys used different methods to complete a marketresearch for their product ‘Cadburys Snaps’. All the techniques they used influenced the way they launched and produced their new product.
Cadburys first identified a market through a rise in modern society. With modern technologies people are often found to have a night in, with things such as ‘Girls Nights’ becoming popular. Cadburys noticed that there would be a market for snacks, for these type of events and ‘lazy days, something that is ‘easy to share and contains enough pieces in the pack for everyone’. Cadburys have acknowledged the problem and have created a solution: ‘Cadbury Snaps are individual chocolate curves, available in a variety of flavours. There are approximately 40 curves in each pack. With so many pieces in each pack and with Snaps available in a variety of flavours, Snaps are an ideal chocolate sharing product.’ This criteria fits into the needs for this type of market as well as Cadburys finding a target market: ‘young adults (20-35 years old) who are sociable and enjoy spending time with their friends and family.’ Cadburys have found a problem and offered a solution to a target market that is likely to purchase the product.
As part of...

...ethical dilemmas that you might encounter in your career.
Seminar Activity: Ethics in the News
You tutor will identify some stories in the media that have interesting ethical dimensions. Try to be on time as this will always be right at the beginning of the seminar. You have to find an ethical issue with a dilemma for the decision-maker(s) as your assignment essay. Ethics in the News can be a very useful start to your search!
SEMINAR ONE: CASE STUDY
The Case of the Holiday (based on actual events)
This case concerns a young medium sized advertising agency in Germany. It had had grown rapidly in the four years since it was founded and had just opened a new office in the US. The company operates in a highly competitive market in which failure to meet customers’ deadlines incurs substantial penalties. Work is almost exclusively project-based, in a high pressure but largely informal environment where teams predominate and hierarchy is little in evidence. The company pays well, and its employees are highly skilled, overwhelmingly graduates and equally overwhelmingly young with over 35 year-olds a rarity.
Employees work an average of 50 hours a week and when deadlines are tight some arrive as early as 5 a.m. and leave as late as 1 a.m. If there is a personnel ‘problem’ it is that turnover is high. Employees tend either to be dismissed quickly after their unsuitability emerges or leave voluntarily after only two or three years. While...

...1
Role of Marketing Research
1. To provide information to decision makers in the marketing department of an organization 2. Types of decisions – 1. Strategic and 2. Tactical 3. Strategic Decisions- Related to Segmentation of the Market, Target Market Selection, and Positioning of the Product 4. Tactical decisions- Related to the 4 Ps of marketing – Product, Pricing, Promotion and Place (distribution)
LEVEL 1 (Strategic)
Marketing Strategy
Segmentation
Target Market Selection Positioning
Information for Marketing Decisions Ps of Marketing PRODUCT PRICING PROMOTION PLACE
LEVEL 2 (Tactical)
Marketing Plan
Fig 1. The Role of Marketing Research
Slide 2
Marketing Information System
1. Information can come from multiple sources 2.Two main sources are Marketing Intelligence and Marketing Research
3.Marketing Intelligence - a continuous process, usually internally managed, based on published or otherwise available data, may be stored for future use 4.Examples of Intelligence - Industry Data, Competitor’s Announcements 5.Marketing Research - data collected for specific action or decision problem, focused, with a time and budget, done by external marketing research company or by company staff, usually with a written report and/or presentation to the study’s sponsor
Marketing Intelligence Ongoing Process Usually done...

...MARKETRESEARCH 2
ASSESSMENT 2
1 - WHY SHOULD AN ORGANISATION CONDUCT MARKETING RESEARCH?
An organization must do a marketing research is to identify and assess how changing elements of the marketing mix impacts customer behavior. Marketing research is the systematic gathering, recording, and analysis of data about issues relating to marketing products and services.
2 - LIST AND DESCRIBE THREE SOURCES OF EXTERNAL INFORMATION.
An external source of information is concerned with what is happening beyond the boundaries of the organization. Such information may be obtainable from government agencies or private information providers.
Internet as online information is burgeoning as much as computers are themselves, Census figures with an observation and personal study of what is happening in the environment and Telephone directories collected from customers, suppliers and other persons able to get valuable information about competitors.
3 – WHAT CRITERIA MUST INFORMATION MEET TO BE USEFUL?
The research information related with research objectives, it must be updated from reliable and quality sources.
4 – DEFINE SECONDARY DATA.
Data collected by others to be "re-used" by the researcher, they are more acceptable when you are using a qualitative method. This is because there are certain common aspects of qualitative research which involves only...